December 29, 2007

World economic crisis 2008: Russia will outstay

Most people, irrespectively of their religion and nationality, tend to celebrate New Year and hope for the best.

The Russians are the same, moreover, the New Year is our main and most beloved holiday celebrated almost in every family. We wish happiness in the upcoming year; raise the goblets for a better future. However, experts who annually release economic forecasts don't see the future so enthusiastically: they promise $175 for barrel of oil and a serious meltdown in Chinese and U.S. financial markets.

The Saxo Bank's specialists from Denmark have prepared a regular economic forecast for the next year, though it is stated that some predictions make no pretence to be precise, but give us a chance to think of the future of the financial markets.

According the analysts, in the upcoming year the world oil prices will reach $175 for barrel, the prices on corn will double and we will have to face a 40% collapse of the Chinese market in August, while American stock indexes will lose 25%.

Every third largest American construction company may turn bankrupt, while the British economy will sag.The question is how often the forecasts issued by the analysts come true.

Saxo Bank assures that all their forecasts made for 2007 were right.

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